Take a poll and ask those individuals who invested a certain % of their hard earned money into 401ks and other investments and how in '08 it effected their retirement plans. If u don't care about risk of losing then go ahead. Investments are a good way of beating inflation when it's temporarily good, but there's no promises it'll stay good.
Investments like Suze suggests aren't guaranteed to grow, but permanent insurance is. Investments is gambling ur hard earned money within the market. 401ks, mutual fund investors are given prospectuses which basically states all their investments are at risk to decrease, no promises to grow. So ask Suze, can you promise me my investments you suggest will be 8%? Let's see what she says. no guarantees in a portfolio means no full diversification
529 plans are not what they are cracked up to be. When you fill out financial aid forms, they ask if you have a 529 plan and then use that against you as income. If you overfund a WL policy, the cash value does not count against you and you can use the cash value to help pay the school loans. Didn't hear Suze Moron mention that at all did you ? Whole Life insurance is building your own bank of money that you can use mostly tax free in the future. didnt hear that from her either did you ?
First off, this chick is so stupid it's ridiculous. No one is saying your getting a financial windfall by your child dying. But how many people are going to bury a child and go back to work after your 4 or 5 bereavement days allowed by your employer ? Maybe you can use the money from your childs policy to grieve properly and take the time needed to work past your child passing away ?..2) Life policies do have a guarantee cash value. 3) Anyone ever wonder how much whole life insurance she has ?
Truly laughable!! The ONLY insurance she endorses is term? She's not completely educated enough to be informing those callers. People, please seek a qualified planner where they can explain Indexed Universal Life and see when and how term should be used properly. I feel sorry for people who just take Suze's word WITHOUT due diligence.
@lovingeachday1989 Primerica only sells term but the term they sell is the MOST expensive on the market. They use unisex rates which screws females and the rate range between 30 to50% higher than most qualifty term products!!!
Buy a 35-40 year term policy and then invest into a universal life insurance policy. Why? Insurance is the only industry where investments are tax deferred. Get an illustration from the company from year one to year end, over funding the policy greatly, and make sure the guaranteed amount is the amount you a happy with. I believe it is the safest bet. A UL policy is the way to go to really fund a "supplemental" retirement. Your money is safe, the only thing safer the invest in is GOLD! term+UL
What about the fees? After you factor the fees involved and inflation, the fact that you are borrowing you own money at a 6-8% interest rate that goes to life insurance company not your savings. and that EVERY respected financial mind supports term insurance ands a great investment plan.........I have to say you sound like a Cash Value Insurance sales person. If you are how do you sleep at night?
Cash Value policies are the key to any successful investment plan!!! They grow tax free at 4-5% with NO MARKET risk - they are better than bonds, IRA, Roth and 401ks combined!! There's no better product on the market, fact!!!
Yet another moron who know NOTHING about life insurance. You don't borrow a single DIME of your money - you borrow from the life carrier and use your policy as collateral - and ps the loan rates range from 4-6% but are credited that rate right back to net the cost to zero or up to 1% - stop lying to the people with your misguided information. Open up a text book and you'll see it right there moron!!!
Why would anyone want to BORROW their own money? Regardless of the coverage, buying term and INVESTING the difference will always be a better option in the long run.
@itorreslv Yet another moron who know NOTHING about life insurance. You don't borrow a single DIME of your money - you borrow from the life carrier and use your policy as collateral - and ps the loan rates range from 4-6% but are credited that rate right back to net the cost to zero or up to 1% - stop lying to the people with your misguided information. Open up a text book and you'll see it right there moron!!!
The vindictive tone Suzy uses reveals that she has an internal agenda that is selfish and closed minded. She rushes to judge the example of the 29 yr old couple who pays $4,000.00 per year on a half million dollar policy that will provide a retirement income of $70,000.00 per year. The policy will also provide loans to help with kids college, home purchase etc. The media has too many all knowing blow-hards like Ms. Orman and Mr. Limbaugh that make millions shouting their highly biased opinions.
@1WORLDDADDY Dear world, education is power. No No, Im sorry APPLIED Edudaction is power. Suzie is so upset because the only selfish person in this case is the agent who sold the policy. I dare you to go to school or just read a book on Term vs Whole then run the $4000 dollars for 30 years in an investment account then tell me if you feel the same way. This couple has been ripped off and Suzie just saved their life. - Joyce
@ajsimp57 Education is indeed power. Objectivity and discerning realistic proofs based on facts helps one arrive at solutions for problems such as future needs. After expenses and taxes the S&P return is subjective regardless of the time frame. Permanent insurance contracts have written guarantees that have unique advantages not found anywhere else. The risks of death too early and living beyond our savings are real and require insightful utilization of many varied solutions.
@1WORLDDADDY Good diction does not excuse bad education and advice. Your words don't make any sense when actually thought about. An investment earning 10% average annual interest over the course of its lifetime will ALWAYS yield more money than a whole life policy earning no more than 2-3% interest for the cash value of the account. It's simple mathematics. Even when the housing market crashed in 08, if people had kept their money saved, the next year they would've made a giant profit.
@1WORLDDADDY You obviously don't know what you're talking about trying to advocate whole life policies when the benefits of term insurance and investing the difference are spelled out in the video. If you invested your money in a Roth IRA and earned, by age 65, over $500,000 in it, you wouldn't need life insurance to offset any major problems. Overpaying for whole life policies for minimal returns instead of paying minimal payments for term insurance is not what I call smart. Stop spreading lies
@jubetily You are a moron - not having life insurance at retirement is a huge mistake, by having it you can spend down your assets and use them freely knowing the DB will be paid to survive your spouse!!! Plus the ROTH is only good for people who don't make any real money - what do the rich do? They buy TONS of Whole LIfe!!!! Do as the rich or do as the poor?
@aIprime1 You sir, know nothing about what you're talking about. Why is a Roth IRA only good for people who "don't make real money"? (Whatever that means) What are your facts and figures that prove the rich buy "tons" of Whole Life? Why would you advise investing in a Whole Life Policy with 2-3% interest annually than a mutual fund account with 10% annual growth rate?
Do you even know what you're talking about or do you just simply hate Term Insurance?
If something happens to the kids, David will be happy that he had the insurance to help with final expenses. What is she talking about?? I don't think this is good advice. Without life insurance, how would he pay for one of his kids if God forbid something happened to his kids in a car accident, lets say? Not good advice Suzie. If something happens to his wife, what's he going to do?
People like shouldsleep and many other Whole Life policy fanatics resort to insults like "term-ites" for a reason. They don't like us. They don't like people who speak the truth. There will always be people who support lies and rip-offs. Stay skeptical, but don't agree with the side who offers the weakest defenses or least benefits. Stick with term insurance and find somewhere to put your savings. Don't give it away to an expensive life insurance policy. Be smart, and do your research, people.
I urge everyone on this page to listen to the facts. All shouldsleep gave in favor of WL is a grossly small amount of life insurance death benefit and a dividend payment option so you could pay four times the amount for a life insurance policy lasting your whole life. Don't be so scared of investing your money, people. Mutual funds have track records for a reason, and nobody likes WL policies for the simple fact that it rips you off. Please do unbiased research and make the correct choice.
All people like shouldsleep on this page advise is keeping whole life policies for the chance to "have options" in life. How could Whole Life even help you anyway when you're essentially overpaying for an insurance policy with a cash value savings bundled at a 2-3% guaranteed rate of interest when you could put it in a mutual fund for triple or more that amount. If you DO manage to get a savings plan for more interest it own't be guaranteed, essentially the same as a mutual fund.
@shouldsleep1 Say whatever you want, keep bringing as many numbers as you can to the table; the fact is that there is a reason WL policies account for less than 10% of all life insurance policies sold today. It is a rip-off, a scam, a way for companies to get MORE money out of you, the consumer, while giving away LESS of theirs.
You may not like Mutual funds, and that's okay, but not one person besides you and alprime think that WL policies actually give you good returns on your money. Give up
@jubetily I never said that I didn't like mutual funds. I just reminded you that they are not guaranteed. I don't care how many people on this stupid page don't like whole life. most advisors are happy to let you lose your shirt and say I told you so later. I am simply hoping to strike a chord with you desperatly misinformed primerica agents and hope you see the light. beleieve me, term has its place. I own 900k of it myself but when it expires, I will be happy to know i still have options
@shouldsleep1 In addition, if you die, you will only get $182,000, your cash value, and not one cent of your death benefit. At that point, you need to ask yourself "Why am I investing money into a life insurance policy AND some savings account when if I die my beneficiary gets only the higher amount and not both?"
Insurance is NOT something you should have your entire life. If you need it forever, it is due to poor financial planning and you will always end up with less money.
@jubetily see this is where you Term-ites go wrong. You NEVER know what the future will bring, a cancelled pension a lost job a changed law etc. Nobody SHOULD need life insurance until ripe old age but that does not change the fact that some people WILL. It is not about poor financial planning it is about " in case shit happens that you didn't count on" my father in law lost his pension due to a bankruptcy and now is very happy he has his permanent life insurance.
You are so correct. Term is in fact the MOST expensive form of life insurance there is if it's to be held for the long term. The actuaries know they can charge crazy low premiums for 20 years because the statistics show you won't die.
@shouldsleep1 I know about Level Premium, and I also know that when selecting Level Premium, the premiums will raise so that the amount paid will equal or be close the amount paid even if ART is the chosen option. You'll pay expensive premiums the entire policy. Premiums for WL policies are always more expensive than term insurance by a very large amount, and justifying it with dividend options that only pay out if the company receives more money than needed to fund itself is not a good argument
@jubetily The argument is that you have a policy with GUARANTEED death benefit. GUARANTEED Premiums and GUARANTEED cash Value GUARANTEED to pay out WHEN you die whenever that may be. if you don't need it you can cash it in and make a reasonable profit at retirement. if you do die, your estate gets an even better return on investment. There are NO GUARANTEES with Mutual funds! I'm not saying to put all of your money into WL but some is not only a good Idea, it is diversification.
@jubetily You say WL is expensive. my very own policy is a $100,000 20 pay life. Costs $2000/ year for 20 years($40,000) and then is paid up for life. When I retire at 65, I will have over $104,000 cash value or $182000. D.B. that means at 65 years old I can take out my $40000 (tax free) that I put in and still have a Guaranteed Min $142000 (free) death benefit. Sounds Way Cheaper than term to me where you only get paid if you die.
@shouldsleep1 Really? I have a Term policy costing 45.53 a month, equaling about $546 a year, more or less, for 30 years, equaling 16,380. The policy will pay $500,000 if I die. Not only am I paying less than half of what you're paying for your policy, but I get over 5 times the amount if I do die. At 21 years old, I will have it until 51, which will be when my kids will be old enough and they won't need my money, and I can tell you for a fact my wife will not need it either.
@jubetily You must have a crystal ball to "know for a fact" that your wife will not have any devastating life changes or economic setbacks in the next 30 years. Also you just made my point from an actuarial standpoint: 99% of males live beyond age 51 hence the $16,380.00 you are spending will financially benefit only the insurance company.
A permanent insurance policy would pay you a guaranteed return on your premium.
@Here2ownU Whole Life policies renew every single year, meaning the premium rises each year after the 2nd or 3rd year. If you do decide on sticking with whole life simply to avoid taxes, you'll end up paying more and more each year with no increasing death benefit. Most whole life policies in the U.S. average only 200,000 while term insurance policies can offer more or the same amount for a MUCH much lower rate. Also, most WL policies only give 2-3% interest for cash value each year.
@jubetily whole life does not renew every year. It is level premium for life. death benefits increase every year due to paid up additional insurance given through dividends (or distribution funds) and even if they only pay 2-3% interest (more like 4-5% with dividends) I would rather have that than a guaranteed investment at the bank (CD in the USA and GIC in Canada) which pay only about 1-2% for locking your money for 5 years! you need to do some homework!
@shouldsleep1 CD's give interest determined by the amount of years you sign up for. A 1 or 5 year CD would give a little over 1% while a 10, 20, or 30 can give upwards of over 5%. And yes, whole life DOES increase each year. Dividend options are only allowable if you have stocks within the company itself. In that case, you would pay even more money each year for the cost of maintaining the company itself. I did my homework and all the financial gurus agree that WL is a rip off. They overcharge.
@jubetily I have sold and own whole life. It does not increase in premium each year and if it is participating whole life (as in participating in the profits of the company) it does pay dividends. no stock required. I have been paying level premiums on my policy and recieving dividends for years. You may be thinking of variable life or Universal life with ART premiums but not whole life. the very definition of whole life is " level premiums & death benefit for your WHOLE LIFE"
@shouldsleep1 And you keep talking about the benefit of recieving dividends each year from yoru insurance company in the first place. The only reason you receive those dividends is when the company is proving to be very profitable that year and makes excess money not needed to fund the company itself so that it can issue dividends to its shareholders, and even when it does, the money is divided by every shareholder, lowering the amount of money you get. Dividends do not pay as much as you think.
@jubetily it just astounds my how little people know about whole life insurance. if you work for a company that only sells term (primerica) you should do yourself a favour and look into what is out there. I can't imagine why any sane person would lock up there money for 10 20 or 30 years to get 5% interest. listen, you are completely and utterly wrong about whole life. there is of course bad & great whole life out there. they are not all the same but believe me, you got your facts mixed up
@shouldsleep1 No option an insurance company can give you can make up for the fact that investing the money saved by purchasing term insurance will always yield a greater amount with mutual funds as well as giving you life insurance for when you need it in the first place. I never advocated locking up money in a CD; you assumed I did. Invest it in a mutual fund which you can withdraw from anytime instead of a life insurance plan where you have the option to "borrow" from it with tax.
@jubetily I've seen your "plan" time and time again. it is a best case scenario plan. worst case, you get to end of your term and you still need insurance. your answer is typical of someone who has never paid a death claim to a retired widow. especially not one that says "that's it, that all the insurance he had?" you will figure this out one day. I only hope its not too late when you do. its not about an extra couple % return in the market its about protecting your family at ALL times
Here's the truth, whole life is a life product that allows standard insurance agents to compete with financial advisors and their mutual fund programs. Every financial advisor hates whole life because it takes away from money they could have managed for you. Here's a few facts, invest the money into your state as Suzy would have you do and guess what..pay 30% taxes! Keep it as a whole life and pay none! Try getting a term policy at age 60! It's expensive burial insurance at best.
@flickerbick1 im not sure that over funding is entirely possible..the premiums paid into it are the cost basis, typically anything that exceeds the cost basis is taxed
Wow mr Termcreep is now telling people he's earning north of 11% in "global" funds - has this moron read a paper recently? Does he know how the markets have been doing? Last 5 years, Last 10 years? Last 20 years? Large Caps in last 20 years have done less than 2% net of fees and taxes - but moronboy is going to get you 11% - Who's taking the risk, the client or the rep? Get it? Stay away from morons like this.
@aIprime1 let me guess you read the TRASH VALUE NOW PAPER or WHOLE LIFE TIMES, dude fuck off already you are an fucking loser. Do some proper research for crying out loud. BTW JGILLES85 has been messaging me telling me to keep posting the truth. He is ashamed of himself.
@aIprime1 A bit harsh alprime but true. if anyone could consitently get 11% returns, they would be working for someone making so much money that they wouldn't have time chat with us peons on you tube! Plus, past performance is in no way indicative of future performance. we all know that! this is the problem with the whole primerica philosophy, they falsly promise these types of returns. As a planner myself I can honestly say that very few people will actually EVER "invest the difference"
i resent people saying whole life is only sold for high commissions. the fact is that I make the same on term as I do on whole life and I sell tons more term than I do whole life or t-100 I do reccomend clients have enough WL to pay for a funeral at least. Owen if you are throwing out whole life policies than you are the con man replacing and churning policies just for commission. especially if they are in their 60's and you replace it with something that will expire. and you have no class!
@shouldsleep1 it's the people in their 60's that are pissed that some snake oil salesman sold them a chit whole life policy.Not only is the cash no where near what they were shown on the " illustration sheet" but the little that is in there they have to borrow, YOU ARE A FRAUD.
@owenbuca UH, no its not! do you even know what a whole life policy is! maybe your thinking of variable or Universal life that was projected at insane interest assumptions, but every 20 or 30 year old Whole life policy I have ever seen has paid out almost to the penny what the original illustration showed which usually turns out to be around 5% compounded annually. over 20-30 years, that is awesome. you really got your head up your ass man. go do your homework.
@shouldsleep1 my " homework " is reading these shit policies, you sell.TELL ME HOW PAYING 44$ A MONTH FOR 18 YEARS YOU HAVE ZERO CASH, AT 20 YEARS 9,000$ YEE HAW SHE CAN RETIRE NOW !! FUCKING JOKE.
@owenbuca my very own policy is a $100,000 20 pay life. Costs $2000/ year for 20 years($40,000) and then is paid up for life. after 20 years i will have $63,000 cash value or $147,000 death benefit. when I retire at 65, I will have over $104,000 cash value or $182000. D.B. that means at 65 years old I can take out my $40000 (tax free) that I put in and still have a Guaranteed Min $142000 (free) death benefit. If you can find a way to make that sound like "shit" go ahead. Whole life RULES
@owenbuca And if you want proof, I will send you a copy of it! I expect you to be man enough to apologize for all of your ignorant and un educated comments afterwards.
@owenbuca Owen, I have tried to be civil and intelligent with you but it has occured to me that you are just an idiot who got duped into a bad policy by shady salesman and you are desperately triying to defend and justify your actions. Your arguments are childish and ignorant and anyone would be just as big an idiot as you are to listen to your advice. I'm done with you!
@shouldsleep1 As a former agent of a company that sells the policy you own, you really need to read your policy.Never ever buy a whole life policy, I was misled like you.
@termischeap I have read it. I have also paid paid countless death claims and have seen peoples lives changed by it. when all other things go to shit in someone's life, isn't it funny that it is their whole life policies that bail them out of their problems. not their mutual funds! only 2% of them ever pay out! I have never seen one term death claim in my carreer!. My policy is not a UL. it is a guaranteed whole life. guaranteed DB and Guaranteed cash values.
@shouldsleep1 the only thing that is guarenteed is the face amount, the client either gets the face amount, or cash value, their families do not get both..doesnt it seem a bit unfair that when a person dies their loved ones dont get the cash value, which is essentially all the premiums paid plus what rate of return it builds up...that the insurance company just keeps it??
@carsonc29 Once a dividend has been paid, it is guaranteed. dividends increase the death benefit. now if you buy term insurance and don't die, do you get your money back? i don't think so! how fair is that. would you rather pay $20000 to get nothing or $60000 to get $100 000. you Term ites always use the same arguments but if you did your homework, you would see that that term is actually more expensive than Permanent.
@shouldsleep1 I used to pay 100 dollars a month for one such policy not too long ago, with a death benefit of a little over 100,000. 75 went to the cash value and 25 went to the life insurance. I switched over to Primerica term insurance just recently and pay 45.53 for a death benefit of 500,000. Also, if you're still trying to get Life insurance at age 60 when all your children should be grown and not be dependents, then there's something wrong. You should not need it then. Period.
@termischeap I do appreciate your comments termischeap. I do own 900k of 25 year term and 100k of whole life. I believe in both products. Whole life has been around for a long long time and has had enough time to prove itself so I won't argue about its security. But, when my term renews at 63 years old and I can't afford the renewals, I don't want to be left without insurance. If I don't need it, I will cash it in for a nifty return. what company did you work for that you were misled?
@shouldsleep1 I worked for Met life, Prudential, State Farm and a few independent companies.Considering a proper investment portfolio diversified globally had a return of over 14% over 20 years and after fees a return of 11.5, I will have over 900k of cash at age 57 but really I can see why you want 100k of cash ( in a life insurance policy) lol. How long have you been selling life insurance ? I am guessing you are fairly new to the industry.
@termischeap I also question your ability to get that type of performance on your investments, what if it all comes crashing down and your life insurance has expired or you can't afford the renewals. Whole life is a back up plan.I still invest and will have MUCH more than just my cash value. but if you reach 57 and your investments don't materialize into 900k, you better hope you don't die! I am not new to this business at all. Are you! no disrespect but try to think worst case scenario.
@shouldsleep1 lol "what if it all come crashing down" holy crap that is a good one, well maybe if life insurance is so good then maybe just maybe holding insurance company stocks is a good thing lol. So If it "all comes crashing down" then your little policy will be worthless because the company would be BROKE AS WELL .
@termischeap i will re phrase. what if the stock market crashes and you lose 60% or your money. oh wait that already happened! now what if it happens the year you want to retire? that happend to many. you will not have the money OR the insurance! again, better hope you don't die after the term is gone. If the whole WORLD comes crashing down, your cash won't help you either!. In that case you need Gold silver guns and toilet paper or your fucked:)
@termischeap these are not fear mongering tactics. Your problem is that you assume we will all live to a ripe old age, have a great pension, never lose a dime in the markets, never lose a job etc. let me ask you, Do you have home insurance? even if your mortgage is paid and you are not forced to have it, I bet you do. why insure your house and not your life? is it worth more than your life? are you never going to die? YOU HAVE TO PLAN FOR THE WORST AND HOPE FOR THE BEST. not the reverse!
@shouldsleep1 here is an exerpt from Berkshire hathaway that says it all. “Berkshire purchases life insurance policies from individuals and corporations who would otherwise surrender them for cash. As the new holder of the policies, we pay any premiums that become due and ultimately – when the original holder dies – collect the face value of the policies". If the ivestment Guru, Warren Buffet does it, Can YOU really argue with that. REALLY
wow...Suze you have no idea what you are talking about...please stop telling people to get term life insurance. Maybe they don't even need life insurance. It all depends on what's the purpose of having a specific type of life insurance. Stop throwing up on people of these nonsense. You out-talked David while you are to understand more about his needs and purposes of having his whole life. I agree whole life is not a solution for him but term life insurance is even worse. Geez!!!!
Regarding commissions on whole life. To suggest anyone sells a product for commission purposes only means they are not looking out for their clients, regardless of the product. The so called "Trash Value" life insurance policy can be a valuable asset as well as guaranteed UL and term. There are going to be many Dave Ramesy fans and Primerica clients buying expensive whole life in their 60's. The need for life insurance doesn't end after 20 or 30 years and people are not investing or saving.
it also just occured to me that some people may be taking a completely U.S.A perspective. In Canada, their is no estate tax on life insurance. it goes 100% to the beneficiary tax free. also, Cash Value is tax sheltered up to the Adjusted cost Base of the policy which means generally that most if not all of your cash value is tax sheltered. I think life insurance is taxed in the U.S. so in that case, a whole life policy does lose some of its luster but in Canada, is a great product.
The bottom line is that all these primerica agents don't want to feel like a fool for peddling expensive term and shitty mutual funds. that's all they can sell so they bash whole life. Have you ever seen the price on a renewable term policy for a 300 lbs man?
@shouldsleep1 you do realize primerica does do more than mutual funds?....you talk like primerica itself is an investment company, they are not..companies like invesco, lincoln financial, "soon to be" franklin templeton, pioneer, met life (annuities), legg mason, which are all highly experienced, profitable and respected companies, simply authorized the company to market their products..surely you dont believe they suck..they might know more about investments than you do...good day
@shouldsleep1 primerica does not have the cheapest erm insurance..but also not the most expensive either..its not always about price, the last time you bought a new car at a dealership, you didnt say to the salesman "i want the absolute cheapest car you have"? prolly not, cause they woulda brought out a car that was a piece of crap and you woulda gotten what you paid for..but prolly didnt ask for a truck that can haul 40k lbs(unless you do hauling as a side gig), cause it wouldnt)
@carsonc29 fit your needs, you prolly ended up buyin a car that fit your price, and fot your overall needs..you keep harkin on the price of PFS term insurance, but from what i hear those policies off er alot of rider options that other term dont offer, allowing the client to maxamize protection without incurring alot of extra cost..
@carsonc29 the only thing that makes one term better than another is the ability to convert it to permanent which Primerica does not offer. otherwise term is term. if you die it pays. all companies have similar riders etc. your analogy to buying a car is irrelevant. primerica has expensive term insurance and if you need to cover your life for a specific "term" only you do not need expensive term.
jgilles85 is an ex-primerican that got fired for screwing his customer, now he is a whole life insurance agent, i have been tracking him down through many blogs, check any blog that talks about TERM INSURANCE and you'll see, everyone please DON'T WAIST YOUR TIME WITH HIM.
Let's get real here. Insurance companies love term insurance. Your family will never see a tax free dime at your death unless you "get lucky" and die prematurely. Whole life costs more because the insurance company is on the hook. You die, they pay. There are times to buy term and times to buy whole life. Everyone has an agenda and it's all about getting in your pocket. Don't let the term or whole life guy talk you in to anything. Do your own homework. Suze is dealing in bad advice.
@swbsasnak You are correct - term is temporary coverage. One thing to remember, poor people think and act like poor people, rich people think and act like rich people and this is why rich people own tons of whole life. Term is to fill in the gaps of aquiring your human life value of coverage. Permanent is for long term planning such as wealth transfers, charitable giving and estate planning. These tools are clueless in this regard.
@swbsasnak I think people forget that insurance companies make almost ALL of their money on term. the only reason they might make a little on Whole life is because dumb peolpe cancell them or let them lapse or let primerica agents replace them with term. And I bet when they do, they tell their clients to pay the premiums with the cash value from their whole life. I would challenge any primerica agent to the table with their clients. every time I have, I have won every single time. WL rules!
@Termisexpensive if thats the way you feel then maybe you should target them instead of focsing on the upper income people, lower income people deserve, hell even need finaincial planning more than the affluent do..the issue with people who peddle WL is they only people who can afford the high premiums are the rich and upper middle income people, and even they dont typically buy it for retirement purposes..
There you have it folks !! when pushed by facts trash value agents fold like a cheap suit, never ever listen to a one trick pony life insurance agent. They are in it for very high commissions and do not care how it effects the family.
I got in the industry after seeing my sister inlaw go thru hell, I found out what term insurance can do and how my brother was lied to by the agent, Anyone who sells trash value knowing the crap that it actually is will go to hell .
people that actually take her advice are not well educated. this is ridiculous.
For the people who actually believe her BS:
What do you think would happen to you when your term insurance renews and you still need coverage but you are too unhealthy to qualify for new coverage and cant afford the renewal rate?
If you were to buy term and invest the difference and then die after the term is done would your investment ever grow the same amount as to what a permanent life insurance policy would?
@owenbuca ouch.... well that just hurt my feelings. why would you say I am an idiot and trash value scumbag might I ask? Just because you can't say anything intelligent back?
@jcf533 would you want 50k of trash value or 400k of cash ? If you get a trash value policy you have been sold crap, only a scumbag trash value salesman would say " you need insurance till you are 104" .
@owenbuca Dear owenbuca. I hope you would sit back and deeply explore your arguments. I may recommend you get further education on this matter. If you don't want to educate yourself, then take advice from someone who has their CFP, CLU, etc. Education is key, my friend.
@jcf533 Please explain why a widow with young 2 kids would be better off with 50k of life insurance instead of 400k. The world awaits on your crocked answer thx.
@owenbuca If you know anything about financial planning you would know that it is personalized to every person's needs. If a widow needs 400k then she needs 400k - that's it. Her budget will determine the product(s). What you are currently failing to realize is that we are not talking about specific needs but instead we are talking about product differences. You have failed yourself once again.
@jcf533 your statement was clearly directed as term was not the way to go, then when given a perfect scenario your statement was "her budget will determine the products" very interesting post. being in this industry as long as I have, after seeing my sister in law struggle cause some douchebag trash value salesman thinks the same as you. I believe you should be thrown in jail for making such stupid statements. How the fuck is your wife still with you ?
@owenbuca If you are in the industry, then why didn't you help your sister make sure her needs were correctly taken care of? I am sorry to hear that your family's needs weren't met. That is very unfortunate. It is also very unfortunate that you make so many general assumptions. You know very little about me, very little in fact that you don't even know I am actually a female. You obviously have anger issues and you have lots of problems that are unresolved. Get help and don't take it out on me.
@jcf533 you have failed at telling me why my sister in law is better to have 50k of insurance when the douchebag trash value salesman could have sold my Brother 400k
@jcf533 don't give me the " her budget " bullshit, you know dam well they were sold the product that paid the highest commissions !! you know if you were in front of me I would knock you the fuck out . I would beat you in front of your family to an inch of your life for ripping families off
@jcf533 i wouldnt exactally lean on a CFP or CLU for total credibility, just remember, banks, and govts are full of people with vast numbers of finance/business degrees, all types of expereince, and they still cant get it right even with all that fancy edu
@carsonc29 You are right. There are lots of idiots out there. What I am trying to say is that education can sometimes help differentiate the total idiots from the idiots. My personal preference is finding someone with an education who isn't an idiot.
@jcf533 i would have to agree with that statement, everyone deserves the proper edu, even tho its some people who are goin to refuse to use it..the old addage "knowledge is power" is only half correct...applied knowledge is what is powerfull..
@carsonc29 You've shown yourself to be really intelligent lately and I never thought I'd see you on this video too. Keep doing what you're doing and i hope you go far in Primerica. Who knows, we might meet each other come the next convention.
As a former Primerican and can tell you it's fact - they have the MOST expensive term life in the industry and they charge the HIGHEST allowable commission on their high fee mutual funds. Plus they use UNISEX rates which in their case results in NO premium relief for males and absolutely crushes the female rate. And their 30 year is ONLY guaranteed 20 years with a waiver that costs 15% of base premium, while ind. ave. is 3%. Criminal
This lady cannot be more wrong on this subject! I personally own a significant amount of participating Whole Life Insurance and I would never cancel it. The cash values in the second year alone were above what I pay annually! She mentions market risk, she is giving pseudo general knowledge. First of all she never asked this gentleman if his policy is through a mutual company or a publicly traded company. I'm willing to bet it's the latter based on the low CV's he says he has accumulated.
@owenbuca And congratulations to you sir for maintaining the sleazy reputation that Primerica has worked so hard to shed! You're unprofessionalism is the exact reason why I turned that "job" offer down when I entered this industry years ago. It's obvious you guys haven't changed a bit.
Plus...5% is cool...but ur money would double every 14 yrs...which is way better than any bank...but when there are mutual funds that have been averaging 12% (6 yr double) with a 5% safety net...why not do that instead?! Its logical to me?!
Buy Term and LOSE the Difference! Whole Life = no market risk? 5% return? tax deferred build up? tax free withdrawal? Zero net cost loans? Self completes if you become disabled? Lawsuit and creditor protected in 43 states? tax free death benefit? No 591/2 rule on distributions? No RMDs? No contribution limits? And people say this is a bad product? Really? The truth be told it very well may be the best financial product you can own!!!
Buy Term and LOSE the Difference! Whole Life = no market risk? 5% return? tax deferred build up? tax free withdrawal? Zero net cost loans? Self completes if you become disabled? Lawsuit and creditor protected in 43 states? tax free death benefit? No 591/2 rule on distributions? No RMDs? No contribution limits? And people say this is a bad product? Really? The truth be told it very well may be the best financial product you can own!!!
How does a 'so-called' financial professional give financial advice by telephone without having done a thorough fact-find or more importantly, discussing financial goals with an individual. Suze, do America a favor a DO NOT give advice by phone with the little information you know of them. PLEASE watch Suze Orman for entertainment only (if you can stomach her), and consult a true professional that will give you more than 30 seconds talk time... by phone. Ms. Orman... you are a rip-off!! LMFAO
@francofresco I agree with your logic here however when we get down to the "nitty gritty", obviously the best & proper thing to do is to sit down and gather information and then advice on what is the best outcome. She is doing a talk show of more of a "general sense" generally speaking or simplify things. Hope you can differenciate financial advice vs "financial advice".
@francofresco Well it's quite simple. When the biggest sponsor of the show (TD) is unable to sell whole life insurance, and is also one of the biggest sellers of term insurance, they can pretty much find anyone to say whatever they want, no matter how stupid, backwards, and unreliable it is. Hope that helps.
@francofresco People just don't get it. The ducks will always see people like Suze and think she is the guru of all finance and that her words are gold and apply directly to them. I hope I can have a quarter the success she has in appealing to people.
@francofresco you are only sayin that because her opinion differs from yours. if she was sayin exactally what you beleive, then you would be on here commending her for her financial prowess and genius
LOL. Please see my video on why a cash value life insurance policy is great investment... Most companies give you a guaranteed cash value.
A lot of people tell they want to get term insurance and invest the difference, but a cash value life insurance policy can get you a 4.5% return on investment per year plus dividends, while term insurance gets you nothing if you outlive your term. I don't like universal or variable or variable/universal life insurance but a whole life policy is great.
@KNT0791 In Canada, you can use the DB+cash value as security for a collateralized loan in retirement, never pay interest on the loan, let the lender become the primary beneficiary, and not pay tax on your money, if the UL is funded properly, it works great, but I don't think you're allowed to do that in the US, it's referred to as a "non-performing" loan. In Canada however it is allowed. A lot of things have to be considered of course, and carefully written, but when it works it works good.
@thesoulofashark How is the money guaranteed when God forbid the insurer died the benefiary only gets the face amount and not the cash value, and all the extra money they spend on saving they could of saved in a different vechical.. even if getting 0% it better because they would still have THERE money not THERE money going back to the insurance company
@AintnoOnethere How isn't the money not guaranteed? When you cash out that cash value it gets taken from the Death Benefit. If you did die, are you happy with the death benefit? In all cases, you received a lot more than you ever contributed. Your internal rate of return is very high in most cases if somebody passes away before 100.
LOL. Please see my video on why a cash value life insurance policy is great investment... Most companies give you a guaranteed cash value.
A lot of people tell they want to get term insurance and invest the difference, but a cash value life insurance policy can get you a 4.5% return on investment per year plus dividends, while term insurance gets you nothing if you outlive your term. I don't like universal or variable or variable/universal life insurance but a whole life policy is great.
@owenbuca yes it does, and it is very expensive.never listen to a guy like sleepless,he is a one trick pony. He only is trained to sell whole life insurance,and does not understand the whole picture.
by the way owen, did your buddy teach you to invest the difference in mutual funds. did he tell you how much is annual trailer commissions are? did he tell you he makes money on your money weather your portfolio is up or down? did he tell you how long the fees are for early withdrawl. did he tell you he only makes 1 commision on life insurance and a lifetime commision on investments. sounds like you need a new buddy.... buddy
term does not take into consideration the unexpected events in life. I don't think one should put all their eggs in the whole life basket, but only an idiot would think that all you need is term in every situation. trust me, when I bring a death benefit to a 75 year old widow, I see first hand the benefit of permanent insurance. I hope you never have to find out first hand. I also, hope your not a financial planner.
what happens if your 20 year term expires and you are now uninsurable? (diabetic, heavy or otherwise sick) you have no savings because you lost your job in the recession and you still have a mortgage and a wife and kids to support. If you have a renewable policy, you will be paying out the ears for it. Buying term and investing the difference only works if you actually do it, never lose your job and live until old age! and don't take any stock market losses either! do you feel comfortable now
@shouldsleep1 If you have a 20 year term, AND you DO invest the difference between the 2 premiums of Cash Value and term life, 1) you may not even need life insurance when the term ends; 2) check your term policy, and you'll MOST OFTEN, BUT NOT ALWAYS find that it can be renewed without any medical exam at all. Oh, it costs more per month? So what? You have the money that you invested to use to make the pmts, IF NECESSARY.
Do a little calculating. buy term & invest the diference.
I was going to write all kinds of stuff in favour of whole life (not universal or variable life) but then I thought of the best argument possible. Bill Gates ownes 2 billion dollars of whole life. why 2 billion? because that is the maximum you can buy. Now why would the richest man in the world do this if it wasn't a great investment? when in Rome, do what the rich Romans do! every situation is different but whole life deffinately serves a purpose.
@shouldsleep1 great post, so when I have 1 billion in my bank I will buy "whole life" until then I will keep my 35 year level term. I have a feeling you are like the scam artist who came into my house and sold me a garbage UL policy, have you no shame? you disgust me all you life insurance salesmen are the same, after the buck,don't give a shit about what you sell. I hope you all go to hell and burn for doing what you do to families.I thank God my buddy came to my home and taught me about ins.
@owenbuca . I hate Universal life and although whole life serves a purpose there is also other permanent insurance with no cash value and a guaranteed lifetime premium. I guarantee you you are paying out the ass for that 35 year term when term to 100 covers all your bases and dosn't cost hardly any more. Do your homework buddy. yah there is allot of jerk salesman out there, but when your 35 years is up, you better hope you don't need insurance anymore! and if you do, you will remember me!
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Take a poll and ask those individuals who invested a certain % of their hard earned money into 401ks and other investments and how in '08 it effected their retirement plans. If u don't care about risk of losing then go ahead. Investments are a good way of beating inflation when it's temporarily good, but there's no promises it'll stay good.
mrditto129 4 days ago
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Investments like Suze suggests aren't guaranteed to grow, but permanent insurance is. Investments is gambling ur hard earned money within the market. 401ks, mutual fund investors are given prospectuses which basically states all their investments are at risk to decrease, no promises to grow. So ask Suze, can you promise me my investments you suggest will be 8%? Let's see what she says. no guarantees in a portfolio means no full diversification
mrditto129 4 days ago
529 plans are not what they are cracked up to be. When you fill out financial aid forms, they ask if you have a 529 plan and then use that against you as income. If you overfund a WL policy, the cash value does not count against you and you can use the cash value to help pay the school loans. Didn't hear Suze Moron mention that at all did you ? Whole Life insurance is building your own bank of money that you can use mostly tax free in the future. didnt hear that from her either did you ?
bryanshelbie 2 weeks ago
First off, this chick is so stupid it's ridiculous. No one is saying your getting a financial windfall by your child dying. But how many people are going to bury a child and go back to work after your 4 or 5 bereavement days allowed by your employer ? Maybe you can use the money from your childs policy to grieve properly and take the time needed to work past your child passing away ?..2) Life policies do have a guarantee cash value. 3) Anyone ever wonder how much whole life insurance she has ?
bryanshelbie 2 weeks ago
Truly laughable!! The ONLY insurance she endorses is term? She's not completely educated enough to be informing those callers. People, please seek a qualified planner where they can explain Indexed Universal Life and see when and how term should be used properly. I feel sorry for people who just take Suze's word WITHOUT due diligence.
VideoInspirationsTV 2 weeks ago
I hate whole life insurance agents!!!! be Primerica clients. They sell term life insurance 100%!!!
lovingeachday1989 2 weeks ago
@lovingeachday1989 Primerica only sells term but the term they sell is the MOST expensive on the market. They use unisex rates which screws females and the rate range between 30 to50% higher than most qualifty term products!!!
aIprime1 1 week ago
Buy a 35-40 year term policy and then invest into a universal life insurance policy. Why? Insurance is the only industry where investments are tax deferred. Get an illustration from the company from year one to year end, over funding the policy greatly, and make sure the guaranteed amount is the amount you a happy with. I believe it is the safest bet. A UL policy is the way to go to really fund a "supplemental" retirement. Your money is safe, the only thing safer the invest in is GOLD! term+UL
Lamonltd 2 weeks ago
AWESOME JUST SIMPLY AWEOME. Thankyou Suzie. I am alsio a financial analyst selling ONLY TERM and investing the difference for clients. -Joyce
ajsimp57 2 weeks ago
What about the fees? After you factor the fees involved and inflation, the fact that you are borrowing you own money at a 6-8% interest rate that goes to life insurance company not your savings. and that EVERY respected financial mind supports term insurance ands a great investment plan.........I have to say you sound like a Cash Value Insurance sales person. If you are how do you sleep at night?
joshcobbfamliy6 3 weeks ago
Cash Value policies are the key to any successful investment plan!!! They grow tax free at 4-5% with NO MARKET risk - they are better than bonds, IRA, Roth and 401ks combined!! There's no better product on the market, fact!!!
aIprime1 3 weeks ago
Cash value policies are a complete joke, only a true con artist sells these to families.
termischeap 3 weeks ago
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Yet another moron who know NOTHING about life insurance. You don't borrow a single DIME of your money - you borrow from the life carrier and use your policy as collateral - and ps the loan rates range from 4-6% but are credited that rate right back to net the cost to zero or up to 1% - stop lying to the people with your misguided information. Open up a text book and you'll see it right there moron!!!
aIprime1 1 month ago
Why would anyone want to BORROW their own money? Regardless of the coverage, buying term and INVESTING the difference will always be a better option in the long run.
itorreslv 1 month ago
@itorreslv Yet another moron who know NOTHING about life insurance. You don't borrow a single DIME of your money - you borrow from the life carrier and use your policy as collateral - and ps the loan rates range from 4-6% but are credited that rate right back to net the cost to zero or up to 1% - stop lying to the people with your misguided information. Open up a text book and you'll see it right there moron!!!
aIprime1 1 month ago
The vindictive tone Suzy uses reveals that she has an internal agenda that is selfish and closed minded. She rushes to judge the example of the 29 yr old couple who pays $4,000.00 per year on a half million dollar policy that will provide a retirement income of $70,000.00 per year. The policy will also provide loans to help with kids college, home purchase etc. The media has too many all knowing blow-hards like Ms. Orman and Mr. Limbaugh that make millions shouting their highly biased opinions.
1WORLDDADDY 1 month ago
@1WORLDDADDY Dear world, education is power. No No, Im sorry APPLIED Edudaction is power. Suzie is so upset because the only selfish person in this case is the agent who sold the policy. I dare you to go to school or just read a book on Term vs Whole then run the $4000 dollars for 30 years in an investment account then tell me if you feel the same way. This couple has been ripped off and Suzie just saved their life. - Joyce
ajsimp57 2 weeks ago
@ajsimp57 Education is indeed power. Objectivity and discerning realistic proofs based on facts helps one arrive at solutions for problems such as future needs. After expenses and taxes the S&P return is subjective regardless of the time frame. Permanent insurance contracts have written guarantees that have unique advantages not found anywhere else. The risks of death too early and living beyond our savings are real and require insightful utilization of many varied solutions.
1WORLDDADDY 2 weeks ago
@1WORLDDADDY Good diction does not excuse bad education and advice. Your words don't make any sense when actually thought about. An investment earning 10% average annual interest over the course of its lifetime will ALWAYS yield more money than a whole life policy earning no more than 2-3% interest for the cash value of the account. It's simple mathematics. Even when the housing market crashed in 08, if people had kept their money saved, the next year they would've made a giant profit.
jubetily 2 weeks ago
@1WORLDDADDY You obviously don't know what you're talking about trying to advocate whole life policies when the benefits of term insurance and investing the difference are spelled out in the video. If you invested your money in a Roth IRA and earned, by age 65, over $500,000 in it, you wouldn't need life insurance to offset any major problems. Overpaying for whole life policies for minimal returns instead of paying minimal payments for term insurance is not what I call smart. Stop spreading lies
jubetily 2 weeks ago
@jubetily You are a moron - not having life insurance at retirement is a huge mistake, by having it you can spend down your assets and use them freely knowing the DB will be paid to survive your spouse!!! Plus the ROTH is only good for people who don't make any real money - what do the rich do? They buy TONS of Whole LIfe!!!! Do as the rich or do as the poor?
aIprime1 1 week ago
@aIprime1 You sir, know nothing about what you're talking about. Why is a Roth IRA only good for people who "don't make real money"? (Whatever that means) What are your facts and figures that prove the rich buy "tons" of Whole Life? Why would you advise investing in a Whole Life Policy with 2-3% interest annually than a mutual fund account with 10% annual growth rate?
Do you even know what you're talking about or do you just simply hate Term Insurance?
jubetily 1 week ago
Whole life is a joke.
termischeap 1 month ago
If something happens to the kids, David will be happy that he had the insurance to help with final expenses. What is she talking about?? I don't think this is good advice. Without life insurance, how would he pay for one of his kids if God forbid something happened to his kids in a car accident, lets say? Not good advice Suzie. If something happens to his wife, what's he going to do?
angelaiam 1 month ago
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People like shouldsleep and many other Whole Life policy fanatics resort to insults like "term-ites" for a reason. They don't like us. They don't like people who speak the truth. There will always be people who support lies and rip-offs. Stay skeptical, but don't agree with the side who offers the weakest defenses or least benefits. Stick with term insurance and find somewhere to put your savings. Don't give it away to an expensive life insurance policy. Be smart, and do your research, people.
jubetily 1 month ago
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jubetily 1 month ago
I urge everyone on this page to listen to the facts. All shouldsleep gave in favor of WL is a grossly small amount of life insurance death benefit and a dividend payment option so you could pay four times the amount for a life insurance policy lasting your whole life. Don't be so scared of investing your money, people. Mutual funds have track records for a reason, and nobody likes WL policies for the simple fact that it rips you off. Please do unbiased research and make the correct choice.
jubetily 1 month ago
All people like shouldsleep on this page advise is keeping whole life policies for the chance to "have options" in life. How could Whole Life even help you anyway when you're essentially overpaying for an insurance policy with a cash value savings bundled at a 2-3% guaranteed rate of interest when you could put it in a mutual fund for triple or more that amount. If you DO manage to get a savings plan for more interest it own't be guaranteed, essentially the same as a mutual fund.
jubetily 1 month ago
@shouldsleep1 Say whatever you want, keep bringing as many numbers as you can to the table; the fact is that there is a reason WL policies account for less than 10% of all life insurance policies sold today. It is a rip-off, a scam, a way for companies to get MORE money out of you, the consumer, while giving away LESS of theirs.
You may not like Mutual funds, and that's okay, but not one person besides you and alprime think that WL policies actually give you good returns on your money. Give up
jubetily 1 month ago
@jubetily I never said that I didn't like mutual funds. I just reminded you that they are not guaranteed. I don't care how many people on this stupid page don't like whole life. most advisors are happy to let you lose your shirt and say I told you so later. I am simply hoping to strike a chord with you desperatly misinformed primerica agents and hope you see the light. beleieve me, term has its place. I own 900k of it myself but when it expires, I will be happy to know i still have options
shouldsleep1 1 month ago
@shouldsleep1 In addition, if you die, you will only get $182,000, your cash value, and not one cent of your death benefit. At that point, you need to ask yourself "Why am I investing money into a life insurance policy AND some savings account when if I die my beneficiary gets only the higher amount and not both?"
Insurance is NOT something you should have your entire life. If you need it forever, it is due to poor financial planning and you will always end up with less money.
jubetily 1 month ago
@jubetily see this is where you Term-ites go wrong. You NEVER know what the future will bring, a cancelled pension a lost job a changed law etc. Nobody SHOULD need life insurance until ripe old age but that does not change the fact that some people WILL. It is not about poor financial planning it is about " in case shit happens that you didn't count on" my father in law lost his pension due to a bankruptcy and now is very happy he has his permanent life insurance.
shouldsleep1 1 month ago
You are so correct. Term is in fact the MOST expensive form of life insurance there is if it's to be held for the long term. The actuaries know they can charge crazy low premiums for 20 years because the statistics show you won't die.
aIprime1 1 month ago
@shouldsleep1 I know about Level Premium, and I also know that when selecting Level Premium, the premiums will raise so that the amount paid will equal or be close the amount paid even if ART is the chosen option. You'll pay expensive premiums the entire policy. Premiums for WL policies are always more expensive than term insurance by a very large amount, and justifying it with dividend options that only pay out if the company receives more money than needed to fund itself is not a good argument
jubetily 1 month ago
@jubetily The argument is that you have a policy with GUARANTEED death benefit. GUARANTEED Premiums and GUARANTEED cash Value GUARANTEED to pay out WHEN you die whenever that may be. if you don't need it you can cash it in and make a reasonable profit at retirement. if you do die, your estate gets an even better return on investment. There are NO GUARANTEES with Mutual funds! I'm not saying to put all of your money into WL but some is not only a good Idea, it is diversification.
shouldsleep1 1 month ago
@jubetily You say WL is expensive. my very own policy is a $100,000 20 pay life. Costs $2000/ year for 20 years($40,000) and then is paid up for life. When I retire at 65, I will have over $104,000 cash value or $182000. D.B. that means at 65 years old I can take out my $40000 (tax free) that I put in and still have a Guaranteed Min $142000 (free) death benefit. Sounds Way Cheaper than term to me where you only get paid if you die.
shouldsleep1 1 month ago
@shouldsleep1 Really? I have a Term policy costing 45.53 a month, equaling about $546 a year, more or less, for 30 years, equaling 16,380. The policy will pay $500,000 if I die. Not only am I paying less than half of what you're paying for your policy, but I get over 5 times the amount if I do die. At 21 years old, I will have it until 51, which will be when my kids will be old enough and they won't need my money, and I can tell you for a fact my wife will not need it either.
jubetily 1 month ago
@jubetily You must have a crystal ball to "know for a fact" that your wife will not have any devastating life changes or economic setbacks in the next 30 years. Also you just made my point from an actuarial standpoint: 99% of males live beyond age 51 hence the $16,380.00 you are spending will financially benefit only the insurance company.
A permanent insurance policy would pay you a guaranteed return on your premium.
1WORLDDADDY 2 weeks ago
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jubetily 2 weeks ago
@Here2ownU Whole Life policies renew every single year, meaning the premium rises each year after the 2nd or 3rd year. If you do decide on sticking with whole life simply to avoid taxes, you'll end up paying more and more each year with no increasing death benefit. Most whole life policies in the U.S. average only 200,000 while term insurance policies can offer more or the same amount for a MUCH much lower rate. Also, most WL policies only give 2-3% interest for cash value each year.
jubetily 1 month ago
@jubetily whole life does not renew every year. It is level premium for life. death benefits increase every year due to paid up additional insurance given through dividends (or distribution funds) and even if they only pay 2-3% interest (more like 4-5% with dividends) I would rather have that than a guaranteed investment at the bank (CD in the USA and GIC in Canada) which pay only about 1-2% for locking your money for 5 years! you need to do some homework!
shouldsleep1 1 month ago
@shouldsleep1 CD's give interest determined by the amount of years you sign up for. A 1 or 5 year CD would give a little over 1% while a 10, 20, or 30 can give upwards of over 5%. And yes, whole life DOES increase each year. Dividend options are only allowable if you have stocks within the company itself. In that case, you would pay even more money each year for the cost of maintaining the company itself. I did my homework and all the financial gurus agree that WL is a rip off. They overcharge.
jubetily 1 month ago
@jubetily I have sold and own whole life. It does not increase in premium each year and if it is participating whole life (as in participating in the profits of the company) it does pay dividends. no stock required. I have been paying level premiums on my policy and recieving dividends for years. You may be thinking of variable life or Universal life with ART premiums but not whole life. the very definition of whole life is " level premiums & death benefit for your WHOLE LIFE"
shouldsleep1 1 month ago
@shouldsleep1 And you keep talking about the benefit of recieving dividends each year from yoru insurance company in the first place. The only reason you receive those dividends is when the company is proving to be very profitable that year and makes excess money not needed to fund the company itself so that it can issue dividends to its shareholders, and even when it does, the money is divided by every shareholder, lowering the amount of money you get. Dividends do not pay as much as you think.
jubetily 1 month ago
@jubetily it just astounds my how little people know about whole life insurance. if you work for a company that only sells term (primerica) you should do yourself a favour and look into what is out there. I can't imagine why any sane person would lock up there money for 10 20 or 30 years to get 5% interest. listen, you are completely and utterly wrong about whole life. there is of course bad & great whole life out there. they are not all the same but believe me, you got your facts mixed up
shouldsleep1 1 month ago
@shouldsleep1 No option an insurance company can give you can make up for the fact that investing the money saved by purchasing term insurance will always yield a greater amount with mutual funds as well as giving you life insurance for when you need it in the first place. I never advocated locking up money in a CD; you assumed I did. Invest it in a mutual fund which you can withdraw from anytime instead of a life insurance plan where you have the option to "borrow" from it with tax.
jubetily 1 month ago
@jubetily I've seen your "plan" time and time again. it is a best case scenario plan. worst case, you get to end of your term and you still need insurance. your answer is typical of someone who has never paid a death claim to a retired widow. especially not one that says "that's it, that all the insurance he had?" you will figure this out one day. I only hope its not too late when you do. its not about an extra couple % return in the market its about protecting your family at ALL times
shouldsleep1 1 month ago
I guess this is the best insurance, maybe they won't accuse you of fraud.
insurancegame 1 month ago
Here's the truth, whole life is a life product that allows standard insurance agents to compete with financial advisors and their mutual fund programs. Every financial advisor hates whole life because it takes away from money they could have managed for you. Here's a few facts, invest the money into your state as Suzy would have you do and guess what..pay 30% taxes! Keep it as a whole life and pay none! Try getting a term policy at age 60! It's expensive burial insurance at best.
Here2ownU 2 months ago
He was paying min amount so it was sold wrong. You got to over fund these like crazy then they work beautifully! Suze is an idiot.
flickerbick1 2 months ago
@flickerbick1 im not sure that over funding is entirely possible..the premiums paid into it are the cost basis, typically anything that exceeds the cost basis is taxed
carsonc29 2 months ago
@carsonc29 No, Life insurance is never taxed unless you MEC the policy or surrender it. Loans and withdraws are tax free.
flickerbick1 2 months ago
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jgiIles85 2 months ago
What? Term insurance sucks. There's no cash value. 8%? Where's that? In the bank?
pnoyguitar 2 months ago
Wow mr Termcreep is now telling people he's earning north of 11% in "global" funds - has this moron read a paper recently? Does he know how the markets have been doing? Last 5 years, Last 10 years? Last 20 years? Large Caps in last 20 years have done less than 2% net of fees and taxes - but moronboy is going to get you 11% - Who's taking the risk, the client or the rep? Get it? Stay away from morons like this.
aIprime1 2 months ago
@aIprime1 let me guess you read the TRASH VALUE NOW PAPER or WHOLE LIFE TIMES, dude fuck off already you are an fucking loser. Do some proper research for crying out loud. BTW JGILLES85 has been messaging me telling me to keep posting the truth. He is ashamed of himself.
termischeap 2 months ago
@aIprime1 A bit harsh alprime but true. if anyone could consitently get 11% returns, they would be working for someone making so much money that they wouldn't have time chat with us peons on you tube! Plus, past performance is in no way indicative of future performance. we all know that! this is the problem with the whole primerica philosophy, they falsly promise these types of returns. As a planner myself I can honestly say that very few people will actually EVER "invest the difference"
shouldsleep1 2 months ago
i resent people saying whole life is only sold for high commissions. the fact is that I make the same on term as I do on whole life and I sell tons more term than I do whole life or t-100 I do reccomend clients have enough WL to pay for a funeral at least. Owen if you are throwing out whole life policies than you are the con man replacing and churning policies just for commission. especially if they are in their 60's and you replace it with something that will expire. and you have no class!
shouldsleep1 2 months ago
@shouldsleep1 it's the people in their 60's that are pissed that some snake oil salesman sold them a chit whole life policy.Not only is the cash no where near what they were shown on the " illustration sheet" but the little that is in there they have to borrow, YOU ARE A FRAUD.
owenbuca 2 months ago
@owenbuca UH, no its not! do you even know what a whole life policy is! maybe your thinking of variable or Universal life that was projected at insane interest assumptions, but every 20 or 30 year old Whole life policy I have ever seen has paid out almost to the penny what the original illustration showed which usually turns out to be around 5% compounded annually. over 20-30 years, that is awesome. you really got your head up your ass man. go do your homework.
shouldsleep1 2 months ago
@shouldsleep1 my " homework " is reading these shit policies, you sell.TELL ME HOW PAYING 44$ A MONTH FOR 18 YEARS YOU HAVE ZERO CASH, AT 20 YEARS 9,000$ YEE HAW SHE CAN RETIRE NOW !! FUCKING JOKE.
owenbuca 2 months ago
@owenbuca my very own policy is a $100,000 20 pay life. Costs $2000/ year for 20 years($40,000) and then is paid up for life. after 20 years i will have $63,000 cash value or $147,000 death benefit. when I retire at 65, I will have over $104,000 cash value or $182000. D.B. that means at 65 years old I can take out my $40000 (tax free) that I put in and still have a Guaranteed Min $142000 (free) death benefit. If you can find a way to make that sound like "shit" go ahead. Whole life RULES
shouldsleep1 2 months ago
@owenbuca And if you want proof, I will send you a copy of it! I expect you to be man enough to apologize for all of your ignorant and un educated comments afterwards.
shouldsleep1 2 months ago
@shouldsleep1 you have been sold a shit policy, and the best part is you did it to yourself lol.
owenbuca 2 months ago
@owenbuca Owen, I have tried to be civil and intelligent with you but it has occured to me that you are just an idiot who got duped into a bad policy by shady salesman and you are desperately triying to defend and justify your actions. Your arguments are childish and ignorant and anyone would be just as big an idiot as you are to listen to your advice. I'm done with you!
shouldsleep1 2 months ago
@shouldsleep1 As a former agent of a company that sells the policy you own, you really need to read your policy.Never ever buy a whole life policy, I was misled like you.
termischeap 2 months ago
@termischeap I have read it. I have also paid paid countless death claims and have seen peoples lives changed by it. when all other things go to shit in someone's life, isn't it funny that it is their whole life policies that bail them out of their problems. not their mutual funds! only 2% of them ever pay out! I have never seen one term death claim in my carreer!. My policy is not a UL. it is a guaranteed whole life. guaranteed DB and Guaranteed cash values.
shouldsleep1 2 months ago
@shouldsleep1 the only thing that is guarenteed is the face amount, the client either gets the face amount, or cash value, their families do not get both..doesnt it seem a bit unfair that when a person dies their loved ones dont get the cash value, which is essentially all the premiums paid plus what rate of return it builds up...that the insurance company just keeps it??
carsonc29 2 months ago
@carsonc29 Once a dividend has been paid, it is guaranteed. dividends increase the death benefit. now if you buy term insurance and don't die, do you get your money back? i don't think so! how fair is that. would you rather pay $20000 to get nothing or $60000 to get $100 000. you Term ites always use the same arguments but if you did your homework, you would see that that term is actually more expensive than Permanent.
shouldsleep1 2 months ago
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jubetily 1 month ago
This has been flagged as spam show
@shouldsleep1 I used to pay 100 dollars a month for one such policy not too long ago, with a death benefit of a little over 100,000. 75 went to the cash value and 25 went to the life insurance. I switched over to Primerica term insurance just recently and pay 45.53 for a death benefit of 500,000. Also, if you're still trying to get Life insurance at age 60 when all your children should be grown and not be dependents, then there's something wrong. You should not need it then. Period.
jubetily 1 month ago
@termischeap I do appreciate your comments termischeap. I do own 900k of 25 year term and 100k of whole life. I believe in both products. Whole life has been around for a long long time and has had enough time to prove itself so I won't argue about its security. But, when my term renews at 63 years old and I can't afford the renewals, I don't want to be left without insurance. If I don't need it, I will cash it in for a nifty return. what company did you work for that you were misled?
shouldsleep1 2 months ago
@shouldsleep1 I worked for Met life, Prudential, State Farm and a few independent companies.Considering a proper investment portfolio diversified globally had a return of over 14% over 20 years and after fees a return of 11.5, I will have over 900k of cash at age 57 but really I can see why you want 100k of cash ( in a life insurance policy) lol. How long have you been selling life insurance ? I am guessing you are fairly new to the industry.
termischeap 2 months ago
@termischeap glad you seen the lite.
owenbuca 2 months ago
@termischeap I also question your ability to get that type of performance on your investments, what if it all comes crashing down and your life insurance has expired or you can't afford the renewals. Whole life is a back up plan.I still invest and will have MUCH more than just my cash value. but if you reach 57 and your investments don't materialize into 900k, you better hope you don't die! I am not new to this business at all. Are you! no disrespect but try to think worst case scenario.
shouldsleep1 2 months ago
@shouldsleep1 lol "what if it all come crashing down" holy crap that is a good one, well maybe if life insurance is so good then maybe just maybe holding insurance company stocks is a good thing lol. So If it "all comes crashing down" then your little policy will be worthless because the company would be BROKE AS WELL .
termischeap 2 months ago
@termischeap i will re phrase. what if the stock market crashes and you lose 60% or your money. oh wait that already happened! now what if it happens the year you want to retire? that happend to many. you will not have the money OR the insurance! again, better hope you don't die after the term is gone. If the whole WORLD comes crashing down, your cash won't help you either!. In that case you need Gold silver guns and toilet paper or your fucked:)
shouldsleep1 2 months ago
@termischeap oh and life insurance is government guaranteed in US and Canada. Mutual funds are not! small comfort but it is something
shouldsleep1 2 months ago
@shouldsleep1 I do understand your FEAR MONGERING TACTICS, I used them as well when I was a salesman with Met, they teach that on day 2.
termischeap 2 months ago
@termischeap these are not fear mongering tactics. Your problem is that you assume we will all live to a ripe old age, have a great pension, never lose a dime in the markets, never lose a job etc. let me ask you, Do you have home insurance? even if your mortgage is paid and you are not forced to have it, I bet you do. why insure your house and not your life? is it worth more than your life? are you never going to die? YOU HAVE TO PLAN FOR THE WORST AND HOPE FOR THE BEST. not the reverse!
shouldsleep1 2 months ago
@shouldsleep1 here is an exerpt from Berkshire hathaway that says it all. “Berkshire purchases life insurance policies from individuals and corporations who would otherwise surrender them for cash. As the new holder of the policies, we pay any premiums that become due and ultimately – when the original holder dies – collect the face value of the policies". If the ivestment Guru, Warren Buffet does it, Can YOU really argue with that. REALLY
shouldsleep1 2 months ago
wow...Suze you have no idea what you are talking about...please stop telling people to get term life insurance. Maybe they don't even need life insurance. It all depends on what's the purpose of having a specific type of life insurance. Stop throwing up on people of these nonsense. You out-talked David while you are to understand more about his needs and purposes of having his whole life. I agree whole life is not a solution for him but term life insurance is even worse. Geez!!!!
financeducation101 3 months ago
Regarding commissions on whole life. To suggest anyone sells a product for commission purposes only means they are not looking out for their clients, regardless of the product. The so called "Trash Value" life insurance policy can be a valuable asset as well as guaranteed UL and term. There are going to be many Dave Ramesy fans and Primerica clients buying expensive whole life in their 60's. The need for life insurance doesn't end after 20 or 30 years and people are not investing or saving.
swbsasnak 3 months ago
it also just occured to me that some people may be taking a completely U.S.A perspective. In Canada, their is no estate tax on life insurance. it goes 100% to the beneficiary tax free. also, Cash Value is tax sheltered up to the Adjusted cost Base of the policy which means generally that most if not all of your cash value is tax sheltered. I think life insurance is taxed in the U.S. so in that case, a whole life policy does lose some of its luster but in Canada, is a great product.
shouldsleep1 3 months ago
@shouldsleep1 cash value is a fucking rippoff in Canada it is useless and I replace that shit all the time, you shouldstaysleeping you con artist.
owenbuca 2 months ago
The bottom line is that all these primerica agents don't want to feel like a fool for peddling expensive term and shitty mutual funds. that's all they can sell so they bash whole life. Have you ever seen the price on a renewable term policy for a 300 lbs man?
shouldsleep1 3 months ago
@shouldsleep1 you do realize primerica does do more than mutual funds?....you talk like primerica itself is an investment company, they are not..companies like invesco, lincoln financial, "soon to be" franklin templeton, pioneer, met life (annuities), legg mason, which are all highly experienced, profitable and respected companies, simply authorized the company to market their products..surely you dont believe they suck..they might know more about investments than you do...good day
carsonc29 2 months ago
@shouldsleep1 primerica does not have the cheapest erm insurance..but also not the most expensive either..its not always about price, the last time you bought a new car at a dealership, you didnt say to the salesman "i want the absolute cheapest car you have"? prolly not, cause they woulda brought out a car that was a piece of crap and you woulda gotten what you paid for..but prolly didnt ask for a truck that can haul 40k lbs(unless you do hauling as a side gig), cause it wouldnt)
carsonc29 2 months ago
@carsonc29 fit your needs, you prolly ended up buyin a car that fit your price, and fot your overall needs..you keep harkin on the price of PFS term insurance, but from what i hear those policies off er alot of rider options that other term dont offer, allowing the client to maxamize protection without incurring alot of extra cost..
carsonc29 2 months ago
@carsonc29 the only thing that makes one term better than another is the ability to convert it to permanent which Primerica does not offer. otherwise term is term. if you die it pays. all companies have similar riders etc. your analogy to buying a car is irrelevant. primerica has expensive term insurance and if you need to cover your life for a specific "term" only you do not need expensive term.
shouldsleep1 2 months ago
This has been flagged as spam show
WARNING EVERYONE:
jgilles85 is an ex-primerican that got fired for screwing his customer, now he is a whole life insurance agent, i have been tracking him down through many blogs, check any blog that talks about TERM INSURANCE and you'll see, everyone please DON'T WAIST YOUR TIME WITH HIM.
acumedcorp 3 months ago
Let's get real here. Insurance companies love term insurance. Your family will never see a tax free dime at your death unless you "get lucky" and die prematurely. Whole life costs more because the insurance company is on the hook. You die, they pay. There are times to buy term and times to buy whole life. Everyone has an agenda and it's all about getting in your pocket. Don't let the term or whole life guy talk you in to anything. Do your own homework. Suze is dealing in bad advice.
swbsasnak 3 months ago
@swbsasnak You are correct - term is temporary coverage. One thing to remember, poor people think and act like poor people, rich people think and act like rich people and this is why rich people own tons of whole life. Term is to fill in the gaps of aquiring your human life value of coverage. Permanent is for long term planning such as wealth transfers, charitable giving and estate planning. These tools are clueless in this regard.
Termisexpensive 3 months ago
@swbsasnak I think people forget that insurance companies make almost ALL of their money on term. the only reason they might make a little on Whole life is because dumb peolpe cancell them or let them lapse or let primerica agents replace them with term. And I bet when they do, they tell their clients to pay the premiums with the cash value from their whole life. I would challenge any primerica agent to the table with their clients. every time I have, I have won every single time. WL rules!
shouldsleep1 2 months ago
@shouldsleep1 Don't waste your time with Primerica tools - their clients are typical lower income families who are easily misguided by these pests.
Termisexpensive 2 months ago
@Termisexpensive if thats the way you feel then maybe you should target them instead of focsing on the upper income people, lower income people deserve, hell even need finaincial planning more than the affluent do..the issue with people who peddle WL is they only people who can afford the high premiums are the rich and upper middle income people, and even they dont typically buy it for retirement purposes..
carsonc29 2 months ago
There you have it folks !! when pushed by facts trash value agents fold like a cheap suit, never ever listen to a one trick pony life insurance agent. They are in it for very high commissions and do not care how it effects the family.
owenbuca 3 months ago
I got in the industry after seeing my sister inlaw go thru hell, I found out what term insurance can do and how my brother was lied to by the agent, Anyone who sells trash value knowing the crap that it actually is will go to hell .
owenbuca 3 months ago
There is NO way that a policy with $50,000 policy is paid up worth a million dollars at age 37, its a FAKE call.
ryanandamandacarlson 4 months ago
people that actually take her advice are not well educated. this is ridiculous.
For the people who actually believe her BS:
What do you think would happen to you when your term insurance renews and you still need coverage but you are too unhealthy to qualify for new coverage and cant afford the renewal rate?
If you were to buy term and invest the difference and then die after the term is done would your investment ever grow the same amount as to what a permanent life insurance policy would?
jcf533 4 months ago
@jcf533 you are an idiot, and a trash value scumbag.
owenbuca 4 months ago
@owenbuca ouch.... well that just hurt my feelings. why would you say I am an idiot and trash value scumbag might I ask? Just because you can't say anything intelligent back?
jcf533 4 months ago
@jcf533 would you want 50k of trash value or 400k of cash ? If you get a trash value policy you have been sold crap, only a scumbag trash value salesman would say " you need insurance till you are 104" .
owenbuca 4 months ago
@owenbuca Dear owenbuca. I hope you would sit back and deeply explore your arguments. I may recommend you get further education on this matter. If you don't want to educate yourself, then take advice from someone who has their CFP, CLU, etc. Education is key, my friend.
jcf533 3 months ago
@jcf533 ok educate my dumb ass, I want you to tell me why 50k is better than 400k of cash then we will go from there.
owenbuca 3 months ago
@jcf533 Please explain why a widow with young 2 kids would be better off with 50k of life insurance instead of 400k. The world awaits on your crocked answer thx.
owenbuca 3 months ago
@owenbuca If you know anything about financial planning you would know that it is personalized to every person's needs. If a widow needs 400k then she needs 400k - that's it. Her budget will determine the product(s). What you are currently failing to realize is that we are not talking about specific needs but instead we are talking about product differences. You have failed yourself once again.
jcf533 3 months ago
@jcf533 your statement was clearly directed as term was not the way to go, then when given a perfect scenario your statement was "her budget will determine the products" very interesting post. being in this industry as long as I have, after seeing my sister in law struggle cause some douchebag trash value salesman thinks the same as you. I believe you should be thrown in jail for making such stupid statements. How the fuck is your wife still with you ?
owenbuca 3 months ago
@owenbuca If you are in the industry, then why didn't you help your sister make sure her needs were correctly taken care of? I am sorry to hear that your family's needs weren't met. That is very unfortunate. It is also very unfortunate that you make so many general assumptions. You know very little about me, very little in fact that you don't even know I am actually a female. You obviously have anger issues and you have lots of problems that are unresolved. Get help and don't take it out on me.
jcf533 3 months ago
@jcf533 you have failed at telling me why my sister in law is better to have 50k of insurance when the douchebag trash value salesman could have sold my Brother 400k
owenbuca 3 months ago
@jcf533 don't give me the " her budget " bullshit, you know dam well they were sold the product that paid the highest commissions !! you know if you were in front of me I would knock you the fuck out . I would beat you in front of your family to an inch of your life for ripping families off
owenbuca 3 months ago
@owenbuca Oh, one last thing. It is called NEEDS ANALYSIS. I suggest you learn about it.
jcf533 3 months ago
@jcf533 I know all about financial needs analysis, I use them to replace trash value policies all the time.
owenbuca 3 months ago
@jcf533 i wouldnt exactally lean on a CFP or CLU for total credibility, just remember, banks, and govts are full of people with vast numbers of finance/business degrees, all types of expereince, and they still cant get it right even with all that fancy edu
carsonc29 2 months ago
@carsonc29 You are right. There are lots of idiots out there. What I am trying to say is that education can sometimes help differentiate the total idiots from the idiots. My personal preference is finding someone with an education who isn't an idiot.
jcf533 2 months ago
@jcf533 i would have to agree with that statement, everyone deserves the proper edu, even tho its some people who are goin to refuse to use it..the old addage "knowledge is power" is only half correct...applied knowledge is what is powerfull..
carsonc29 2 months ago
@carsonc29 You've shown yourself to be really intelligent lately and I never thought I'd see you on this video too. Keep doing what you're doing and i hope you go far in Primerica. Who knows, we might meet each other come the next convention.
jubetily 1 month ago
This has been flagged as spam show
As a former Primerican and can tell you it's fact - they have the MOST expensive term life in the industry and they charge the HIGHEST allowable commission on their high fee mutual funds. Plus they use UNISEX rates which in their case results in NO premium relief for males and absolutely crushes the female rate. And their 30 year is ONLY guaranteed 20 years with a waiver that costs 15% of base premium, while ind. ave. is 3%. Criminal
aIprime1 4 months ago
I really hope no one takes her seriously
lwmitch10 4 months ago
@lwmitch10 Why would you not take her seriously? You are a whole life insurance peddler?
sun818 4 months ago
This lady cannot be more wrong on this subject! I personally own a significant amount of participating Whole Life Insurance and I would never cancel it. The cash values in the second year alone were above what I pay annually! She mentions market risk, she is giving pseudo general knowledge. First of all she never asked this gentleman if his policy is through a mutual company or a publicly traded company. I'm willing to bet it's the latter based on the low CV's he says he has accumulated.
mgillum28 5 months ago
@mgillum28 and how long you been selling whole life? I am guessing you sell trash value insurance.
owenbuca 5 months ago
@owenbuca And congratulations to you sir for maintaining the sleazy reputation that Primerica has worked so hard to shed! You're unprofessionalism is the exact reason why I turned that "job" offer down when I entered this industry years ago. It's obvious you guys haven't changed a bit.
mgillum28 3 months ago
@mgillum28 and you sir are the classic scum that sells trash value to families.
owenbuca 3 months ago
good lord Suze...what's the guaranteed on your investments?
MrMiamiStudent 5 months ago
Plus...5% is cool...but ur money would double every 14 yrs...which is way better than any bank...but when there are mutual funds that have been averaging 12% (6 yr double) with a 5% safety net...why not do that instead?! Its logical to me?!
ItzSlickDangerBytch 5 months ago
Cash Value
1. U have to borrow ur own money (in general 6 months in advance)
2. U will make and save more by buying term and investing the difference
3. U don't get both death and savings benefits
4. Ur money doesn't generally start building for 2-4 yrs
5. If u take out the money...the policy no longer exist
I can go on for days
ItzSlickDangerBytch 5 months ago
@ItzSlickDangerBytch
Wow. So many things wrong with your statements. You need to educate yourself a bit before speaking
lwmitch10 4 months ago
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Buy Term and LOSE the Difference! Whole Life = no market risk? 5% return? tax deferred build up? tax free withdrawal? Zero net cost loans? Self completes if you become disabled? Lawsuit and creditor protected in 43 states? tax free death benefit? No 591/2 rule on distributions? No RMDs? No contribution limits? And people say this is a bad product? Really? The truth be told it very well may be the best financial product you can own!!!
aIprime1 5 months ago
This has been flagged as spam show
Buy Term and LOSE the Difference! Whole Life = no market risk? 5% return? tax deferred build up? tax free withdrawal? Zero net cost loans? Self completes if you become disabled? Lawsuit and creditor protected in 43 states? tax free death benefit? No 591/2 rule on distributions? No RMDs? No contribution limits? And people say this is a bad product? Really? The truth be told it very well may be the best financial product you can own!!!
aIprime1 5 months ago
Suze and many of these other pop culture financial advisors really don't have a clue about life insurance.
WLWeller55 6 months ago
thank suze for helping us hide whole life. you don't want everybody knowing about it or else the government will start putting restrictions on it.
xBboycHinK 6 months ago
@xBboycHinK They'd also lose their biggest sponsor being the biggest holder of term insurance (TD)
chefkoo 6 months ago
How does a 'so-called' financial professional give financial advice by telephone without having done a thorough fact-find or more importantly, discussing financial goals with an individual. Suze, do America a favor a DO NOT give advice by phone with the little information you know of them. PLEASE watch Suze Orman for entertainment only (if you can stomach her), and consult a true professional that will give you more than 30 seconds talk time... by phone. Ms. Orman... you are a rip-off!! LMFAO
francofresco 6 months ago 6
@francofresco I agree with your logic here however when we get down to the "nitty gritty", obviously the best & proper thing to do is to sit down and gather information and then advice on what is the best outcome. She is doing a talk show of more of a "general sense" generally speaking or simplify things. Hope you can differenciate financial advice vs "financial advice".
lfg323 6 months ago
@francofresco Well it's quite simple. When the biggest sponsor of the show (TD) is unable to sell whole life insurance, and is also one of the biggest sellers of term insurance, they can pretty much find anyone to say whatever they want, no matter how stupid, backwards, and unreliable it is. Hope that helps.
chefkoo 3 months ago
@francofresco People just don't get it. The ducks will always see people like Suze and think she is the guru of all finance and that her words are gold and apply directly to them. I hope I can have a quarter the success she has in appealing to people.
MNgeneralfinance 3 months ago
@francofresco I can't agree with you more francofresco...Suze please stop throwing up on people with these nonsenses.
financeducation101 3 months ago
@francofresco you are only sayin that because her opinion differs from yours. if she was sayin exactally what you beleive, then you would be on here commending her for her financial prowess and genius
carsonc29 2 months ago
LOL. Please see my video on why a cash value life insurance policy is great investment... Most companies give you a guaranteed cash value.
A lot of people tell they want to get term insurance and invest the difference, but a cash value life insurance policy can get you a 4.5% return on investment per year plus dividends, while term insurance gets you nothing if you outlive your term. I don't like universal or variable or variable/universal life insurance but a whole life policy is great.
thesoulofashark 7 months ago
@thesoulofashark Are you in the U.S. or Canada? Just curious, because here in Canada, the U.L is a lot better. Of course if it's written properly.
KNT0791 7 months ago
@KNT0791 In the US, well in terms of getting cash I think WL is a lot better. UL has its reasons.
thesoulofashark 7 months ago
@KNT0791 In Canada, you can use the DB+cash value as security for a collateralized loan in retirement, never pay interest on the loan, let the lender become the primary beneficiary, and not pay tax on your money, if the UL is funded properly, it works great, but I don't think you're allowed to do that in the US, it's referred to as a "non-performing" loan. In Canada however it is allowed. A lot of things have to be considered of course, and carefully written, but when it works it works good.
KNT0791 7 months ago
@thesoulofashark How is the money guaranteed when God forbid the insurer died the benefiary only gets the face amount and not the cash value, and all the extra money they spend on saving they could of saved in a different vechical.. even if getting 0% it better because they would still have THERE money not THERE money going back to the insurance company
AintnoOnethere 7 months ago
@AintnoOnethere How isn't the money not guaranteed? When you cash out that cash value it gets taken from the Death Benefit. If you did die, are you happy with the death benefit? In all cases, you received a lot more than you ever contributed. Your internal rate of return is very high in most cases if somebody passes away before 100.
thesoulofashark 7 months ago
LOL. Please see my video on why a cash value life insurance policy is great investment... Most companies give you a guaranteed cash value.
A lot of people tell they want to get term insurance and invest the difference, but a cash value life insurance policy can get you a 4.5% return on investment per year plus dividends, while term insurance gets you nothing if you outlive your term. I don't like universal or variable or variable/universal life insurance but a whole life policy is great.
thesoulofashark 7 months ago
does term 100 have savings?
owenbuca 8 months ago
@owenbuca yes it does, and it is very expensive.never listen to a guy like sleepless,he is a one trick pony. He only is trained to sell whole life insurance,and does not understand the whole picture.
probslpwtyormama 8 months ago
@owenbuca typically no. There may be some with "living benefits" options, in the event of a critical illness.
KNT0791 7 months ago
by the way owen, did your buddy teach you to invest the difference in mutual funds. did he tell you how much is annual trailer commissions are? did he tell you he makes money on your money weather your portfolio is up or down? did he tell you how long the fees are for early withdrawl. did he tell you he only makes 1 commision on life insurance and a lifetime commision on investments. sounds like you need a new buddy.... buddy
shouldsleep1 8 months ago
primerica by the way, sells one the most expensive term policies in the business! figure that out!
shouldsleep1 8 months ago
@shouldsleep1 Amen brother....thank you....I thought I was the only one who is absolutely insanely angry about this.
KNT0791 7 months ago
term does not take into consideration the unexpected events in life. I don't think one should put all their eggs in the whole life basket, but only an idiot would think that all you need is term in every situation. trust me, when I bring a death benefit to a 75 year old widow, I see first hand the benefit of permanent insurance. I hope you never have to find out first hand. I also, hope your not a financial planner.
shouldsleep1 8 months ago
what happens if your 20 year term expires and you are now uninsurable? (diabetic, heavy or otherwise sick) you have no savings because you lost your job in the recession and you still have a mortgage and a wife and kids to support. If you have a renewable policy, you will be paying out the ears for it. Buying term and investing the difference only works if you actually do it, never lose your job and live until old age! and don't take any stock market losses either! do you feel comfortable now
shouldsleep1 8 months ago
It's obvious you will end up like this because this is how you think is going to happy and don't actually educate yourself about how money works.
deej0119 8 months ago
@shouldsleep1 If you have a 20 year term, AND you DO invest the difference between the 2 premiums of Cash Value and term life, 1) you may not even need life insurance when the term ends; 2) check your term policy, and you'll MOST OFTEN, BUT NOT ALWAYS find that it can be renewed without any medical exam at all. Oh, it costs more per month? So what? You have the money that you invested to use to make the pmts, IF NECESSARY.
Do a little calculating. buy term & invest the diference.
DiceHunt 8 months ago
I was going to write all kinds of stuff in favour of whole life (not universal or variable life) but then I thought of the best argument possible. Bill Gates ownes 2 billion dollars of whole life. why 2 billion? because that is the maximum you can buy. Now why would the richest man in the world do this if it wasn't a great investment? when in Rome, do what the rich Romans do! every situation is different but whole life deffinately serves a purpose.
shouldsleep1 8 months ago 7
@shouldsleep1 great post, so when I have 1 billion in my bank I will buy "whole life" until then I will keep my 35 year level term. I have a feeling you are like the scam artist who came into my house and sold me a garbage UL policy, have you no shame? you disgust me all you life insurance salesmen are the same, after the buck,don't give a shit about what you sell. I hope you all go to hell and burn for doing what you do to families.I thank God my buddy came to my home and taught me about ins.
owenbuca 8 months ago
@owenbuca . I hate Universal life and although whole life serves a purpose there is also other permanent insurance with no cash value and a guaranteed lifetime premium. I guarantee you you are paying out the ass for that 35 year term when term to 100 covers all your bases and dosn't cost hardly any more. Do your homework buddy. yah there is allot of jerk salesman out there, but when your 35 years is up, you better hope you don't need insurance anymore! and if you do, you will remember me!
shouldsleep1 8 months ago
@shouldsleep1 Not to mention, after 35 years is up, you may not even be insurable!
thesoulofashark 7 months ago